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Jan 20, 2013
01/13
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CNNW
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you put me back in i'm going to focus on immigration, energy, i'm going to focus on this god awful deficit and debt we have. those seemed to be the three long-term things he was playing for and then newton happened and like every parent, like every american, his heart was broken and he has taken this incredibly politically difficult and divisive issue of gun safety and put it ahead i think of debt and deficit, immigration and energy. he had to respond to what happened and people right now are judging that response. >> there's a blueprint. certainly there's a blueprint and they're working on the blueprint. plans on how they'll pursue gun control and plans on how they'll pursue immigration. massive rollouts in the next few weeks. marco rubio seasoning the house for possible transformative legislation. >> 2016 happened right here right now. >> and she wasn't even the first. >> wasn't even the first. margaret and paul, thank you for joining us to talk ability these fascinating issues. >> and when we return, a sneak peek at tomorrow's parade route and security measures in place around the capit
you put me back in i'm going to focus on immigration, energy, i'm going to focus on this god awful deficit and debt we have. those seemed to be the three long-term things he was playing for and then newton happened and like every parent, like every american, his heart was broken and he has taken this incredibly politically difficult and divisive issue of gun safety and put it ahead i think of debt and deficit, immigration and energy. he had to respond to what happened and people right now are...
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Jan 20, 2013
01/13
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CNN
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medicare, social security, deficits, taxes, spending. so, a lot of the things he talked about in the first speech, still with him in the second. >> we're going to talk about a lot more ahead. go live to the white house in just minutes to actually see the president renew his oath of office and, again, his second term. stick with us. >>> also, we'll bring you a candid look at the first family's daily life. first lady has a new agenda. first, this inaugural flashback. >> obama! >> thank you. >> obama! >> thank you. >> there was a magic to the inaugural day for president obama. the first african-american to be president, as if the whole history of our country was coming full circle with the ending of slivery and now the first african-american president. >> the man whose father less than 60 years ago might not have been served at a local restaurant can now stand before you to take a most sacred oath. >> the crowds were reveling in that spirit. 1.8 million than have ever been there before. just the idea that we have come this far as a nation.
medicare, social security, deficits, taxes, spending. so, a lot of the things he talked about in the first speech, still with him in the second. >> we're going to talk about a lot more ahead. go live to the white house in just minutes to actually see the president renew his oath of office and, again, his second term. stick with us. >>> also, we'll bring you a candid look at the first family's daily life. first lady has a new agenda. first, this inaugural flashback. >>...
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Apr 9, 2013
04/13
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CSPAN2
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medicare program is already running in deficit. the trust fund, it goes belly up in about 2024, i'm told, about 75% of that is from general revenues already. and, you know, we've got these incredible debts and deficits. so i have to pick up the briefing this morning at your seat, if you go to the first chart that i found which is called future u.s. debt held by the -- [inaudible] unsustainable levels, current policies remain unchanged. this is where we're looking. and i'm glad that, michael, you did this in red. [laughter] this is about red ink. and so talk about your own budget at home or your business, this is, you know, continuing to run b balanced budgets that are not balanced, of that have these historic deficits leading up to a record debt results in economic collapse. it's the most predictable economic crisis in our nation's history. so i hope the president's budget that he puts out tomorrow addresses these issues. if it looks like what he talked about at year end with john boehner, it will be inadequate for the challenge. i
medicare program is already running in deficit. the trust fund, it goes belly up in about 2024, i'm told, about 75% of that is from general revenues already. and, you know, we've got these incredible debts and deficits. so i have to pick up the briefing this morning at your seat, if you go to the first chart that i found which is called future u.s. debt held by the -- [inaudible] unsustainable levels, current policies remain unchanged. this is where we're looking. and i'm glad that, michael,...
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Mar 5, 2013
03/13
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KQEH
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krugman would argue this is not the time to talk about deficit reduction. where did you come on that debate? >> i think there are things we could do that would not increase the deficit problems. i wrote in "the new york times" this week where i argued key areas would be tax reform, a lot of which benefit upper-income people for no good reason, the lower rates we applied to investment income. i think having tax reform would get our economy going. it would be done in a way to reduce revenues and lower rates for everyone by getting rid of these loopholes. i think it would help get the economy going, which would produce more revenues. another area is infrastructure. there would be no time in history where you would have the ability to find long-term infrastructure programs. construction costs are very low because the economy is very weak. it is fiscally irresponsible not to be issuing long-term debt to repair infrastructure, and that can be paid overtime through special taxes. there is a way to generate revenue to support infrastructure improvements in a way th
krugman would argue this is not the time to talk about deficit reduction. where did you come on that debate? >> i think there are things we could do that would not increase the deficit problems. i wrote in "the new york times" this week where i argued key areas would be tax reform, a lot of which benefit upper-income people for no good reason, the lower rates we applied to investment income. i think having tax reform would get our economy going. it would be done in a way to...
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Dec 18, 2013
12/13
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we have cut our deficit in half over the last few years. this bill adds to the $2.5 trillion in reduction done since 2011, with an additional $23 billion in evenings over the next 10 years. the bill is not exactly what i would have written on my own. i am pretty sure it is not what chairman ryan would have written. i asked for three additional minutes. >> any objection? hearing none -- >> this bill is a compromise. neither side got exactly what they wanted, and both of us had to give in. i was disappointed that we were not able to close a single tax loophole. i hope we could extend critical support to workers who are starting to get back on the job. i was disappointed that republicans refused to allow that to be part of this. i certainly would have liked to replace sequestration. i know it was difficult for many republicans to accept any increases in the bca cap at all. i know many republicans had hoped that this would be an opportunity to make benefit cuts. i fought hard to keep them out. this deal is a compromise. it does not tackle every
we have cut our deficit in half over the last few years. this bill adds to the $2.5 trillion in reduction done since 2011, with an additional $23 billion in evenings over the next 10 years. the bill is not exactly what i would have written on my own. i am pretty sure it is not what chairman ryan would have written. i asked for three additional minutes. >> any objection? hearing none -- >> this bill is a compromise. neither side got exactly what they wanted, and both of us had to...
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Mar 11, 2013
03/13
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LINKTV
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we wouldn't even have to think about government deficits. the less enthusiastic view was that lower tax rates would cause big budget deficits, would cause high interest rates, and thisould result in lower business investment and growth. the effects of the reagan tax cuts are veryomplicated. many of these effects are still with us. weanay, yes, productivie if we compare 1981 and 1984, yes, there was gwth. tol feratax revees did increaselightly. but yes, thereanalnterest rateseficits, sperhaps on one point both sides might agree. if you're going in for massive tax cuts to spur productivity growth, it would be prudent to do something of the equation e governin check.ng sirowth, during t 1970s, productivity growth declined. we still don't know all the reasons why. by the late 1980s, growth rate had increased far less than the opmistic predictions of supply-siders. some economistspraised the res for improving productivity growth. others call the policies a failure for not improving it enough. but one thing was clear-- the poor productivity of the
we wouldn't even have to think about government deficits. the less enthusiastic view was that lower tax rates would cause big budget deficits, would cause high interest rates, and thisould result in lower business investment and growth. the effects of the reagan tax cuts are veryomplicated. many of these effects are still with us. weanay, yes, productivie if we compare 1981 and 1984, yes, there was gwth. tol feratax revees did increaselightly. but yes, thereanalnterest rateseficits, sperhaps on...
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Feb 13, 2013
02/13
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KTVU
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the tax increases and deficit spending you proposed will hurt middle class families. it will cost them their raises. it will cost them their benefits and maybe their jobs and hurt seniors because it does nothing to save medicare and social security. so mr. president p i don't oppose your plans because i want to protect the rich. i oppose your plans because i want to protect my neighbors, hard working middle class americans who don't need a plan to grow the government. they need a plan to grow the middle class. economic growth is the best way to help the middle class. unfortunately our economy actually shrank during the last three months of 2012 but if we can get the economy to grow at 4% a year, it would create middle class jobs and reduce the deficits by almost $4 trillion over the next decade. tax increases can't do this. raising taxes won't create private sector jobs and no tax increase could lower the deficit by $4 trillion so i hope the president will abandon his obsession with raising taxes and instead work with us to achieve real growth in our economy. one of t
the tax increases and deficit spending you proposed will hurt middle class families. it will cost them their raises. it will cost them their benefits and maybe their jobs and hurt seniors because it does nothing to save medicare and social security. so mr. president p i don't oppose your plans because i want to protect the rich. i oppose your plans because i want to protect my neighbors, hard working middle class americans who don't need a plan to grow the government. they need a plan to grow...
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Oct 7, 2013
10/13
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LINKTV
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huge deficits turn to surplus.
huge deficits turn to surplus.
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Jan 21, 2013
01/13
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FOXNEWSW
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again, everyone wants deficit reduction. they do not want debt pour on. >> do you believe there is still an appetite to cut spending? this is a walkway that will connect the white house and the reviewing stand and the motorcade is going to the south side of the white house behind the white house, and the back of this building right now and they go to the white house to this walkway just to get to this reviewing stand. you are looking at there and seeing what, robert? it seems like more gamesmanship in both sides with a brief window. >> the economy is better, that is clear. housing is coming back. there is alignment between the business community and the priorities of the executive office. immigration reform. education. corporate tax reform. we need the other things we mentioned, the debt ceiling happened first. otherwise, this is going to be an uncertain year. >> why didn't you get picked if treasury? ing in against jack lew but they need guys like you. >> i am very flattered. fox should start a campaign for me. very flatter
again, everyone wants deficit reduction. they do not want debt pour on. >> do you believe there is still an appetite to cut spending? this is a walkway that will connect the white house and the reviewing stand and the motorcade is going to the south side of the white house behind the white house, and the back of this building right now and they go to the white house to this walkway just to get to this reviewing stand. you are looking at there and seeing what, robert? it seems like more...
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but we're not finished in terms of the whole long-term deficit reduction, debt reduction, that comes to play with rating agents is ahead of us, but the tax was such a big uncertainty, now we know the rules of at least that part of the game. neil: what about their attitude? a crowd that is in the top tier. they have higher taxes, it has to affect their psyche. >> not only that, but much has been said that taxes are not going up on the majority. but lost in the shuffle is payroll tax, some say that is just 2%, that is 4.2 to 6.2, that is a 50% increase. consumer confidence has remained resilient. when the rubber hits road, and they get the check, we have to see whether we get a until on dent. neil: do you see is happening? >> not sure. the good news is that things that tend from track with consumer confidence like housing and energy prices and job growth have all been trending to the better, if they continue to provide the offset we may be able to manage the wow, my paycheck is less. but it will make at least a little bit of a dent. neil: all right, liz great to see you again. presiden
but we're not finished in terms of the whole long-term deficit reduction, debt reduction, that comes to play with rating agents is ahead of us, but the tax was such a big uncertainty, now we know the rules of at least that part of the game. neil: what about their attitude? a crowd that is in the top tier. they have higher taxes, it has to affect their psyche. >> not only that, but much has been said that taxes are not going up on the majority. but lost in the shuffle is payroll tax, some...
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Oct 8, 2013
10/13
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MSNBC
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you couldn't pay the debt service on the deficit any more. we would have to cut spending pretty quickly if this dragged on at all. this would take recovery into recession. bad for the bond market, bad for the stock market. >> the debt ceiling or debt limit has a bad name debt limit sounds like a good thing. sounds like you had a good limit on debt. without that cliff attached to it as bernanke did, without that little verbal trick, it would have been very hard to exprez to people that something dangerous was coming. making them realize that they have some serious risks in this if they have mortgages and car loans. >> it's a terrible name and idea. we should get rid of it. a lot of people hear this and they say this will put some restraint on the future. congress has already voted for programs they have committed to borrowing this money. so the debt ceiling is only a declaration that we will actually pay our debts. it would be nice if one result of the crisis is if congress would abolish the idea of a debt ceiling all together. it is an antiqu
you couldn't pay the debt service on the deficit any more. we would have to cut spending pretty quickly if this dragged on at all. this would take recovery into recession. bad for the bond market, bad for the stock market. >> the debt ceiling or debt limit has a bad name debt limit sounds like a good thing. sounds like you had a good limit on debt. without that cliff attached to it as bernanke did, without that little verbal trick, it would have been very hard to exprez to people that...
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when there's no problem created by that deficit no that's stupid does that mean the government should be hysterical about how much it's spending when our government is spending about half as much of its g.d.p. as most other developed nations and our own spending compared to ourselves is at levels lower than most of the past half century you know that's stupid too these are manufactured hysteria is to get our government to do things that will further destroy the middle class and enrich the banks in the billionaires have nothing to do with the purpose of government if the job of the government is to protect the rights of life liberty and the pursuit of happiness what the constitution repeatedly refers to as the general welfare and the real issue government should be laser focused on is obvious it's jobs and nine hundred forty four president franklin roosevelt suggested that we should put into law a second bill of rights it would cost if i what he had already been doing for a decade with the new deal and among the most important of those was the right to a job when capitalism fails to pr
when there's no problem created by that deficit no that's stupid does that mean the government should be hysterical about how much it's spending when our government is spending about half as much of its g.d.p. as most other developed nations and our own spending compared to ourselves is at levels lower than most of the past half century you know that's stupid too these are manufactured hysteria is to get our government to do things that will further destroy the middle class and enrich the banks...
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Jan 2, 2013
01/13
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FOXNEWSW
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eye 200
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$329 billion added to the federal deficit in 2013 and $4 trillion in 10 years. these are not my numbers but the numbers of the congressional budget office so let this final number sink in. $62 billion a year. but we get tax hikes off the fat cat each year. enough to fund the government for less than a week! not even a week. don't spend it all in one place guys. if you think this is what you do on the brink, i hesitate to think what you do when we are not on the brink because behavior like this proves we will always be on the brink. that's why i suspect our credit rating will be downgraded and moody's hinting such an hour ago and wall street may not see it but a self respecting credit agency cannot miss it, washington cannot cut and washington cannot cut it so the aaa thing? stick a fork in it. the truth is, we do not deserve it. and a market watcher seas we are all going to pay. this is just a matter of time before the hammer comes down on the rating? >>guest: that is right. history could prove itself again because you saw this back in august of 2011 when we wer
$329 billion added to the federal deficit in 2013 and $4 trillion in 10 years. these are not my numbers but the numbers of the congressional budget office so let this final number sink in. $62 billion a year. but we get tax hikes off the fat cat each year. enough to fund the government for less than a week! not even a week. don't spend it all in one place guys. if you think this is what you do on the brink, i hesitate to think what you do when we are not on the brink because behavior like this...
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Oct 19, 2013
10/13
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CSPAN2
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eye 64
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of years of the clinton administration, i mean, aside from a few policy exceptions which reduces the deficit which plays a significant role in the booming economy of the 199 0s, it was a fiasco. you know, because of the new politics clinton who governed, and it was the new politics liberals who were, you know, throughout the bureaucracy of the white house and the west wing. and so it, you know, clinton loses the congress for the first time since the 1950s, republicans take control. now, there were some longer forces at work, you know, especially in the south to cause that. but clinton's first two years, you know, were just a disaster. and what he learned, right, and this is to clinton's credit, he goes, you know, he did this in arkansas too. his first, you know, it was a two-year term as governor of arkansas until they changed the constitution. his first term as governor he did not govern as a moderate democrat. he governed as a new politics liberal, and they voted him out. [laughter] and so what he learned after 1994 is to go back to his dlc roots to, you know, to intentionally, you know, g
of years of the clinton administration, i mean, aside from a few policy exceptions which reduces the deficit which plays a significant role in the booming economy of the 199 0s, it was a fiasco. you know, because of the new politics clinton who governed, and it was the new politics liberals who were, you know, throughout the bureaucracy of the white house and the west wing. and so it, you know, clinton loses the congress for the first time since the 1950s, republicans take control. now, there...
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Feb 10, 2013
02/13
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the president makes peace with the tax system he inherits from harry truman and is more interested in deficit reduction and that bank retirement than he is in a tax reduction. that does not mean there is no tax reduction in the 1950's. people who are fans of reason tax rates now and burdens on the ich point back to the 1950's here is an era of good growth and we have these really high tax rates. taht's true but -- that's true but effective tax rates declined steadily during the 1950's. colom -- policymakers' fi figured out the deal. that would reduce the effecrtive ctive rate for most taxpayers. if you look up the actual rates being paid by people, they are dropping quite quickly. it is notionally high rates but declining tax burdens. those high tax rates that economists loved to hate then did succumb to a democratic administration and then to the 1916's when the kennedy administration past the big tax cut -- democratic administration kennedy1960's when the administration passed the big tax cut. that is an unholy compromise. the rate reduction to the to the 1960's walked back a bit. broadenin
the president makes peace with the tax system he inherits from harry truman and is more interested in deficit reduction and that bank retirement than he is in a tax reduction. that does not mean there is no tax reduction in the 1950's. people who are fans of reason tax rates now and burdens on the ich point back to the 1950's here is an era of good growth and we have these really high tax rates. taht's true but -- that's true but effective tax rates declined steadily during the 1950's. colom --...
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May 6, 2013
05/13
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CSPAN
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eye 78
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deficits do not matter. that was like a historical error of enormous proportions. you know,fortunate, the forms, if i can use that term from my book. -- deformed, if i can use that term from my book. it is a wash. >> this book is 743 -- >> that counts the index. basically, almost everything in here is either out of my personal recollection or experience -- most of the book is about the big picture, the framework, the flow of history. most of the facts are public domain facts. i am a note in the back that most of these economic numbers are from the national income and product account or the commerce department, a list of publications. everybody can google it today. i am not an academic. i am not trying to prove anything. as i said in the notes on resources, this is a polemic. how it evolves from the founding of the fed through the depression through the througher golden era the reagan errors that occurred and into the bubble and the finance of greenspan and then the collapse in 2008 and so forth, and so i thi
deficits do not matter. that was like a historical error of enormous proportions. you know,fortunate, the forms, if i can use that term from my book. -- deformed, if i can use that term from my book. it is a wash. >> this book is 743 -- >> that counts the index. basically, almost everything in here is either out of my personal recollection or experience -- most of the book is about the big picture, the framework, the flow of history. most of the facts are public domain facts. i am a...
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Aug 17, 2013
08/13
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CSPAN2
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now we run budget deficits annually that are a trillion dollars. we have had deficits as large, almost as large as what the entire federal budget was as recently as when bill clinton was president. i'd argue to you that's a pretty big government x that's an unhealthy trajectory in government growth. and unfortunately, we crossed all of those trillion and two trillion and three trillion dollar thresholds while we had republican presidents. so there's a lot of work to be done in that area. a second thing that i would say measures how big of a government that we have is the sides of our -- the size of our national debt. we now have a gross national debt that is bigger than united states economy. i would say that that's a sign of a big government. but even the gross national debt doesn't really measure accurately all of the money we owe, all of the promises the federal government has made that it doesn't have money to pay for. if you look at that, we have unfunded liabilities to federal programs including the major entitlement programs, social security
now we run budget deficits annually that are a trillion dollars. we have had deficits as large, almost as large as what the entire federal budget was as recently as when bill clinton was president. i'd argue to you that's a pretty big government x that's an unhealthy trajectory in government growth. and unfortunately, we crossed all of those trillion and two trillion and three trillion dollar thresholds while we had republican presidents. so there's a lot of work to be done in that area. a...
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you're dead on about that i want to get right back to that the deficit the enormous power that these corporations wheeled out i mean here at the fiscal cliff all this fear mongering about how we're going to dive off the fiscal cliff we need to cut all across the board but of course you know like these giant fortune five hundred corporations we're not really talking about the tax loopholes that they get can you give us the break that they're getting already boyd it's shocking in fact it's a truth it's i'm stunned that i haven't seen it on the news i think in two thousand and eleven b.n. paid one percent in federal tax exxon mobil paid two percent. of that of the ten most successful u.s. corporations the average tax rate they paid was nine percent. and if we're trying to raise revenue that's where we need to look we don't need to raise taxes on the american people and close the only agency in washington to help the small businesses are all the jobs are created we need to make sure these large corporations are paying their fair share of taxes and you're not seeing anyone in congress eve
you're dead on about that i want to get right back to that the deficit the enormous power that these corporations wheeled out i mean here at the fiscal cliff all this fear mongering about how we're going to dive off the fiscal cliff we need to cut all across the board but of course you know like these giant fortune five hundred corporations we're not really talking about the tax loopholes that they get can you give us the break that they're getting already boyd it's shocking in fact it's a...
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146
Jan 1, 2013
01/13
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CSPAN2
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eye 146
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we still have a deficit issue. we still have a deficit problem. what we tried to establish this morning in this vote, revenue has to be part of every solution on deficit reduction. the other side of the aisle reluctantly, after years of resisting it, came to our side in the early morning hours. that's number one. number two, we need to take an honest look at entitlements. here's what the facts are: social security untouched, unamended, unchanged will make every promised payment for 20 years. you can't say that about any other federal program. 20 years of payments with cost-of-living adjustments every singles year, and on the 21st year, there will be a dropoff of 30% in terms of social security benefits. so we have 20 years. we can wait, we can wait five, ten, or fifteen to do something about it. or maybe this year, 2013. that's i'd like to to. i'm preparing legislation which will call for the creation of a commission, to come up with a plan for 75-year solvency of social security. when you have it and it's been certified to be a valid plan, report
we still have a deficit issue. we still have a deficit problem. what we tried to establish this morning in this vote, revenue has to be part of every solution on deficit reduction. the other side of the aisle reluctantly, after years of resisting it, came to our side in the early morning hours. that's number one. number two, we need to take an honest look at entitlements. here's what the facts are: social security untouched, unamended, unchanged will make every promised payment for 20 years....
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i mean is this really the case or absolutely not it's going to increase the deficit and cost america he's claiming he's going to say three hundred million dollars a year by combining the the s.p. the commerce department and the federal budget that's peanuts at the same time he's increasing foreign aid by nine billion dollars that's enough money to run the s.b.a. for a decade so. ronald reagan actually tried to close the s.b.a. twice back in his administration and the way he was going to close it was kind of to combine it with a congress to parchman so make no mistake president obama's attention to combine the space with the commerce department is the same thing that ronald reagan was can try to do and close the agency and in all the programs for the small businesses where most americans work and as you stated over ninety percent of the net new jobs are created and why are we even targeting the s.b.a. when it's really like i mean you just mentioned so much in foreign aid and really it's a drop in the bucket compared to the dio d.d. h.s. all these absurd agencies that are just exponent
i mean is this really the case or absolutely not it's going to increase the deficit and cost america he's claiming he's going to say three hundred million dollars a year by combining the the s.p. the commerce department and the federal budget that's peanuts at the same time he's increasing foreign aid by nine billion dollars that's enough money to run the s.b.a. for a decade so. ronald reagan actually tried to close the s.b.a. twice back in his administration and the way he was going to close...
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Sep 7, 2013
09/13
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CSPAN2
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eye 101
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it took just five years, and now we run budget deficits annually, that are a trillion dollars. it's a big government, and that's an unhealthy, and unfortunately, we crossed all the trillions and two a three trillion threshold with the republican president. the size of the national debt, a gross national debt that is bigger than the united states economy. i would say that that's a sign of a big government. even the growth national debt does not really measure accurately all of the money that we owe, all the promises the federal government has made that it doesn't have the money to pay for it, and if you look at that, we have unfunded liabilities to the entitlement program, social security, and medicare well in excess of $80 trillion, and our unfunded liabilities are twice the size of the world economy. i would argue to you that that's a pretty big government. what do we do in terms of returning to the founding father's vision of a federal government that was strong enough to protect the united states and defend its interests, but limited in scope, limited by the constitution. it
it took just five years, and now we run budget deficits annually, that are a trillion dollars. it's a big government, and that's an unhealthy, and unfortunately, we crossed all the trillions and two a three trillion threshold with the republican president. the size of the national debt, a gross national debt that is bigger than the united states economy. i would say that that's a sign of a big government. even the growth national debt does not really measure accurately all of the money that we...
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Oct 9, 2013
10/13
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CSPAN
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eye 45
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to pursue one kind of deficit reduction. you would not be allowed to both do targeted cuts which we should do and cuts to tax breaks. we talked about big oil company subsidies. you've got big wall street hedge fund owners who get a much lower tax rate than the ordinary americans. under this legislation, you couldn't reduce the deficit by one penny by closing some of the tax breaks. >> absolutely. in this nation, one percent of the people in this country have hijacked the middle class. that is what my colleagues on the democrat side are trying to do -- that is increase the middle class and widen it so this nation could go forward. i don't imagine that harry reid will let it reach the pilot his desk. i think it is important for the people to know that a partial list of bipartisan budget negotiations since 2010 -- there have been commissions that people forget. the cantor-biden talks, the obama-boehner debt ceiling negotiations, the gang of six talks, the supercommittee, the obama fiscal cliff stalks. every one of them went now
to pursue one kind of deficit reduction. you would not be allowed to both do targeted cuts which we should do and cuts to tax breaks. we talked about big oil company subsidies. you've got big wall street hedge fund owners who get a much lower tax rate than the ordinary americans. under this legislation, you couldn't reduce the deficit by one penny by closing some of the tax breaks. >> absolutely. in this nation, one percent of the people in this country have hijacked the middle class....
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Apr 11, 2013
04/13
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CURRENT
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the social security is not responsible for the deficit. the fund has $9.1 trillion. it's the largest sovereign wealth fund in the world. the social security fund has been operating at a surplus now ever since the fund was founded ever since the program was funded. we are. we're 25 year's of anything resembling a problem of any kind with the he social security system. under current law the beneficiaries can get everything they're entitleeled to. i don't know where we're fretting over what might happen in 2027 when we have americans looking for full-time jobs. >> john: we don't like to call these programs entitlements, we call them earned benefits. is there no compromise with the president if he doesn't offer something like that up. >> that's not the way you should negotiate. the president offered something to nothing that was offered. we're not talking about things that are commensurate to each other. you cannot equate cutting social security benefits, breaking the problems that we have made to ourselves, the covenant that we make to ourselves, you can't equate that t
the social security is not responsible for the deficit. the fund has $9.1 trillion. it's the largest sovereign wealth fund in the world. the social security fund has been operating at a surplus now ever since the fund was founded ever since the program was funded. we are. we're 25 year's of anything resembling a problem of any kind with the he social security system. under current law the beneficiaries can get everything they're entitleeled to. i don't know where we're fretting over what might...
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Mar 16, 2013
03/13
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CSPAN
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it is not true that it was reagan's tax cuts that led to the deficit. the problem was for every additional dollar that came in to the internal revenue service, the democrats were spending another $3. then reagan's knuckle head of a vice president, the first george bush, unable to learn from the first kick of a mule, made the exact same deal with democrats. he raised taxes in exchange for promised cuts in spending. "i will gladly take a tax hike today for a cut in spending on tuesday." once again, democrats raised spending. it would be like journalists going to tribal chiefs circa 1890 and saying sarcastically, "are you telling me you would not give of 1 acre of land for a guaranteed promise of 10 acres of land?" and then 10 years later, "we are going to be needing nebraska and south dakota, too." obama claims he wants to keep taxes low for the middle class. let me tell you for the 400 people still left in the middle class, they could not be happier. obama also said he had to shut down white house tours because of the sequestered. do not worry, though --
it is not true that it was reagan's tax cuts that led to the deficit. the problem was for every additional dollar that came in to the internal revenue service, the democrats were spending another $3. then reagan's knuckle head of a vice president, the first george bush, unable to learn from the first kick of a mule, made the exact same deal with democrats. he raised taxes in exchange for promised cuts in spending. "i will gladly take a tax hike today for a cut in spending on tuesday."...
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Oct 16, 2013
10/13
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FOXNEWSW
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the debate isn't about how to get the deficit under control. the debate is that the republicans continue to insist no new revenue and that is the problem and as we head towards january 15th, if we say no new revenue, we are not going to get that, but again, this is what americans get so frustrated with. we have this kicking the can down the road mentality, you have the time to create really really because didn't we just do this with simpson boles two years ago? >> the country is divided on this question too. the country is divided on this too. they don't want the budget cut and they don't want taxes increa increased. >> congressman, the president of the united states looked at the report and he punted. >> right. and in all to be fair here, this is not a bipartisan commission this is following the constitution and having the budget committees meet in congress as they are supposed to. >> i get it all but the senate hasn't passed a budget in how many years? >> that is the goal. the goal is to come out with something and it is going to take preside
the debate isn't about how to get the deficit under control. the debate is that the republicans continue to insist no new revenue and that is the problem and as we head towards january 15th, if we say no new revenue, we are not going to get that, but again, this is what americans get so frustrated with. we have this kicking the can down the road mentality, you have the time to create really really because didn't we just do this with simpson boles two years ago? >> the country is divided...
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Apr 30, 2013
04/13
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CSPAN2
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why should we expect the huge deficit to help us? >> chris van hollen? >> it does matter. there are some investments that provide a greater return in terms of our future. i would argue infrastructure ve, investment in education is important, science and research at the early stage is very important. we also know that in this period where you have all this slack, you have trillions of dollars on the sidelines primarily because the lack of demand moving forward and making these disasters now and help the economy in the short term and the long term. i should say that i do believe we should also act now to put in place balanced approach for long-term deficit reduction. i am not saying wait to do that but it should be phased in over a longer period of time. most of the real demographic push comes eight, nine, ten years out. it pays to face those changes in on the health care side that we talked about, but it is very shortsighted to cut deeply in individual investors. a drag on the economy and hurts the long-term economic growth. >> there is plenty of savings, we are short on ti
why should we expect the huge deficit to help us? >> chris van hollen? >> it does matter. there are some investments that provide a greater return in terms of our future. i would argue infrastructure ve, investment in education is important, science and research at the early stage is very important. we also know that in this period where you have all this slack, you have trillions of dollars on the sidelines primarily because the lack of demand moving forward and making these...
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Jan 14, 2013
01/13
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MSNBCW
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and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. we are not a deadbeat nation. >> thank goodness. but next, news flash, we already hit the ceiling two weeks ago. and the treasury's been using, quote, extraordinary measures to pay its bills. what does that even mean? the money shuffle can't last forever. the u.s. is out of money to pay its bills, it's already spent in less than four weeks. i have cousins that do that. they play to hold the debt ceiling hostage. aides say half the conference is ready to let the nation default. speaker boehner will school them on the real threat later this week. even a temporary extension for, say, two or three months could rattle the markets and threaten the nation's credit rating. last time they hashled out a debt deal? summer of 2011 and we ended up more than a trillion dollars in mandatory spending cuts and congress still hasn't addressed and delayed again until marc
and ironically, would probably increase our deficit. so to even entertain the idea of this happening, of the united states of america not paying its bills, is irresponsible. it's absurd. we are not a deadbeat nation. >> thank goodness. but next, news flash, we already hit the ceiling two weeks ago. and the treasury's been using, quote, extraordinary measures to pay its bills. what does that even mean? the money shuffle can't last forever. the u.s. is out of money to pay its bills, it's...
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Nov 23, 2013
11/13
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CSPAN
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one more thing, since i took office, we have cut our deficit by more than half. that makes it easier to invest in the things that create jobs. education, research, and infrastructure. imagine how much farther along we would be if both parties were working together. itnk about what we could do a reckless view did not hold the economy hostage every few months are waste time on trying to retail the affordable care act instead of fixing it. in the weeks ahead, i will continue to talk about my plan to build a better bargain for the middle-class. a chance to buy a home, save and retire. financial security of affordable health care. i will look for any willing partners who want to help. your hard work in tough sacrifices pointed in the right direction, but we have more work to do to keep moving that way. as long as i'm president, i will keep doing everything he can to create jobs, grow the economy, and make sure that everyone who works hard have a chance to grow. thanks. have a great weekend. >> i am dr. michael burgess. i have spent 25 years practicing medicine in nort
one more thing, since i took office, we have cut our deficit by more than half. that makes it easier to invest in the things that create jobs. education, research, and infrastructure. imagine how much farther along we would be if both parties were working together. itnk about what we could do a reckless view did not hold the economy hostage every few months are waste time on trying to retail the affordable care act instead of fixing it. in the weeks ahead, i will continue to talk about my plan...
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Jan 6, 2013
01/13
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CSPAN
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all of the deficit finance. we will add $64 million this year to reduce the deficit. many of us feel deficit does not matter. there is in fish section of our country. we will have none of those resources after we make this vote tonight. we set of three more fiscal cliffs. we have to back on this night and regret it. 95% of that will go forward. thank you. >> i know at 0 you one minute. >> region of you one minute. >> a rise today to show you this bill. we have two choices. we prevent us from going over the cliff or we go over the cliff. it never should have come to this. we should have been negotiating a passing a balanced. the american people are fed up with what they see. harry truman back in 1948 when he was running for president, a campaign against it. this past three times as many bills. here are at the last minute. we are rushing. as i commend president obama for protecting the middle class. we are going to have to work and meet in a sensible center. the american people do not want it. president obama won reelection campaigning for the middle class. >> i've neve
all of the deficit finance. we will add $64 million this year to reduce the deficit. many of us feel deficit does not matter. there is in fish section of our country. we will have none of those resources after we make this vote tonight. we set of three more fiscal cliffs. we have to back on this night and regret it. 95% of that will go forward. thank you. >> i know at 0 you one minute. >> region of you one minute. >> a rise today to show you this bill. we have two choices. we...
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Feb 2, 2013
02/13
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MSNBCW
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but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a good eye, what caught yours? >> one thing i saw was the revisions to last year's employment growth was such that i thought we were adding 150,000 jobs a month in 2012. i thought it was okay. turns out we're adding 180,000 jobs per month last year. so we did a bit better. over 2 million jobs on the year. now on the gdp side, most economists, don't think it will stick. i think it it volatility, i think there were unusual things that happened. in the quarter to quarter changes, it is better to look year over year. >> and do you mean what happens in a month or two we'll get t
but increasing taxes a bit, not coming to the big deficit deal. the private sector and even the markets don't seem all that concerned. the last week should cause a lot of people in washington to re-think what they're doing. i am not optimistic that will happen. joining me now, former economic adviser to vice president joe biden, jared bernstein, a man who is always re-thinking what he is doing, how are you? >> i'm fine, ezra. >> and what else did you see in the reports? you got a...
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Jan 20, 2013
01/13
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MSNBCW
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another thing going on is deficit politics. i'm not saying just the deficit itself, which with a balanced approach we can take care of like we did in the '90s after bush one. i think deficit politics, there's a fear of it, it's ginned up, becomes a big obstacle to doing things he wants to do and that the country needs like investing in our economic infrastructure, improving public education, jump-starting new industries to keep us competitive, that sort of thing. i think that's going to be a big obstacle to a lot of things in the second term. >> he touched on the deep division that marked certainly the second part of his first term, robert. gridlock in congress. what is the gop's strategy for working with this president in the second term? because surely they don't want to be labeled as obstructionist for the next four years. >> the posture of the gop for the first term is to deny this president the second term. now that he is in his second term, i think what the republicans will do most likely is let's see where we can find co
another thing going on is deficit politics. i'm not saying just the deficit itself, which with a balanced approach we can take care of like we did in the '90s after bush one. i think deficit politics, there's a fear of it, it's ginned up, becomes a big obstacle to doing things he wants to do and that the country needs like investing in our economic infrastructure, improving public education, jump-starting new industries to keep us competitive, that sort of thing. i think that's going to be a...
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Oct 2, 2013
10/13
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KCSM
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eye 60
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it does not grow our deficit by a single dime. it does not authorize anybody to spend any money whatsoever. all it does is authorize the treasury to pay the bills on what congress has already spent. think about that. if you buy a car, you do not save money by not paying your car note. you are just a deadbeat. if you buy a house, you do not save money by not authorizing yourself to pay the mortgage. you are just going to be foreclosed on your home. that is what this is about. it is routine. it is what they are supposed to do. it is not a concession to me. it is not some demand that is unreasonable that i am making. this is what congress is supposed to do as a routine matter, and they should not wait until the last minute to do it again last time republicans even threaten to this course of action, many of you remember, back in 2011, our economy stagnated, our credit rating was down for the first time. they go through with it this time and first--force america to default, it will be more dangerous than a shutdown as bad as a shutdown
it does not grow our deficit by a single dime. it does not authorize anybody to spend any money whatsoever. all it does is authorize the treasury to pay the bills on what congress has already spent. think about that. if you buy a car, you do not save money by not paying your car note. you are just a deadbeat. if you buy a house, you do not save money by not authorizing yourself to pay the mortgage. you are just going to be foreclosed on your home. that is what this is about. it is routine. it...
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the recent poll said how wi the country get the budget deficit under control? 57% said that they think that it will only happen with automatic cuts. only 29% say that they think that lawmakers can actually get it done. how do you interpret those numbers? >> i think that they get it. the super committee backing of the super committee. i think they continue to govern from crisis to crisis. the president has unable to catch that big deal when he had an opportunity in 2011. muddling through crisis to crisis. we really need leadership. they are having these brief conversations every once in while. melissa: what happens next? looking people at home expect? >> we are going to see meat inspectors laid off, that's up to the president, but it doesn't have to happen. it doesn't have to allow for traffic controllers to go home or to be furloughed. there are plenty of waysn washington. melissa: we on't need planes to fall out of the sky. thank you so much, congressman. let's turn to the market moment. u.s. factory data helped reverse a 116.5 slide from the dow jones. major
the recent poll said how wi the country get the budget deficit under control? 57% said that they think that it will only happen with automatic cuts. only 29% say that they think that lawmakers can actually get it done. how do you interpret those numbers? >> i think that they get it. the super committee backing of the super committee. i think they continue to govern from crisis to crisis. the president has unable to catch that big deal when he had an opportunity in 2011. muddling through...
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Jan 18, 2013
01/13
by
FBC
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eye 80
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if we don't get at military industry complex, and social insurance we're kidding ourselves, the deficits will grow. neil: then what. i don't see anything being done. >> i think that is why i say the budget is a doomsday machine, we face a permanent fiscal cliff of 8% gdp gap. i see a constant political battle, every year there will be a deb debt ceiling crisis. neil: what do you think of the president? >> you know you can't have a dictate adictatorship, you havea bad blow up in financial markets. neil: is that coming? >> i do think so, a blame bernanke more than anybody else for the mess, when he said you can borrow money for 3 years to pay federal deficit at 30 basis points that is a rounding error to congress ha is zero, why is anyone going to stand up to social insurance, military industrial complex, the subsidies this bill, 60 billion boondoggle they passed for relief, who'll stand up to that stuff, when the great man, and said i'll take care of it, i'll keep interest at rock bottom. i'll print the money, i'll buy the bond. until we have a house cleaning in the fed, until we get rid
if we don't get at military industry complex, and social insurance we're kidding ourselves, the deficits will grow. neil: then what. i don't see anything being done. >> i think that is why i say the budget is a doomsday machine, we face a permanent fiscal cliff of 8% gdp gap. i see a constant political battle, every year there will be a deb debt ceiling crisis. neil: what do you think of the president? >> you know you can't have a dictate adictatorship, you havea bad blow up in...
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May 26, 2013
05/13
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KNTV
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eye 97
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big spending trove up the deficit in those years. and pretty much ignited the tea party movement. wedge politics. especially in the 2004 election activated the evangelical right. and the adventures abroad, the wars we've been talking about led to today's divisions between those like john mccain who supports the wars, and libertarians like rand paul who certainly does not. these are fascinating. let's talk about the tax thing. a lot of people forgotten it. the tea party is having. their own republican party was not vetoing any spending bills. >> big spending republican which was a new phrase. no one had ever heard of one of those. because of the explosion of government after 9-11, the number of tax bills that -- tax cut bills that were passed, the deficit exploded under bush. and that made the economic wing of the republican party which it liked his policies up to a point and this other group of folks who worry about debt and deficits, that made them unhappy. >> don't forget prescription drug benefits for seniors. chris: unfunded. the republican party used to be party when i was gr
big spending trove up the deficit in those years. and pretty much ignited the tea party movement. wedge politics. especially in the 2004 election activated the evangelical right. and the adventures abroad, the wars we've been talking about led to today's divisions between those like john mccain who supports the wars, and libertarians like rand paul who certainly does not. these are fascinating. let's talk about the tax thing. a lot of people forgotten it. the tea party is having. their own...
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Oct 26, 2013
10/13
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CSPAN
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eye 80
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has scored the immigration bill as reducing the deficit by almost $900 billion over the next 20 years. so if you're asking yourself right now, what is one of the most promising, bipartisan things we can do to reduce the long-term deficit, you should be supporting and actively fighting for passage of the comprehensive immigration reform that passed the united states senate. but obviously it's just also the right thing to do from a moral point of view. the president's mentioned the farm bill, where there's been bipartisan movement. you know, one of the other things that we talked about with the president quite a bit is understanding the ability of the president to get things done and have change even beyond legislation. now, legislatively, a couple of other things i mentioned, i think there's some bipartisan progress on patent reform, and trying to reduce the degree of abusive litigation that gets in the way of innovation. i think chairman goodlatte has shown leadership in getting -- in moving forward. -- in moving forward a bill that will probably still need some adjustments from his d
has scored the immigration bill as reducing the deficit by almost $900 billion over the next 20 years. so if you're asking yourself right now, what is one of the most promising, bipartisan things we can do to reduce the long-term deficit, you should be supporting and actively fighting for passage of the comprehensive immigration reform that passed the united states senate. but obviously it's just also the right thing to do from a moral point of view. the president's mentioned the farm bill,...
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but we're not finished in terms of the whole long-term deficit reduction, debt reduction, that piece certainly comes into play with the ratings agencies is still ahead of us, but i think the tax piece was such a big uncertainty now we know the rules of at least that part of the game, i think a lot of players can suit up. >> neil: what about their attitude, that this is a crowd that in in that top tier and psychologically it's got to affect their psyche? >> not only that, but much has been said about now, taxes are not going up on the majority, but-- >> payroll. >> the payroll tax, people say it's only 2%, but it's 4.2 to 6.2, which is a 50% increase, so, i think that will be an interesting thing to watch in the next couple of weeks, is that consumer confidence has remained fairly resilient. >> neil: better be looking at the checks. >> when the rubber hits the road and they get the checks, we'll see a follow on consumer-- >> the good news is that things that tend to track with consumer confidence like housing, energy prices, job growth, have all been trending to the better. so, if tho
but we're not finished in terms of the whole long-term deficit reduction, debt reduction, that piece certainly comes into play with the ratings agencies is still ahead of us, but i think the tax piece was such a big uncertainty now we know the rules of at least that part of the game, i think a lot of players can suit up. >> neil: what about their attitude, that this is a crowd that in in that top tier and psychologically it's got to affect their psyche? >> not only that, but much...